DiNapoli reports on IDA’s jobs numbers

Projects supported by New York’s Industrial Development Agencies (IDAs) produced nearly 36,000 additional jobs in 2014, an increase of 18 percent from the prior year, according to a report issued yesterday by State Comptroller Thomas P. DiNapoli. This is DiNapoli’s ninth annual report examining the performance of the state’s IDAs and how these entities work to attract, retain and expand businesses within their communities.
In 2015, DiNapoli successfully spearheaded legislation to improve the process by which IDAs approve new projects, the quality of the information they gather about the projects, and policies for recapturing financial assistance if project goals are not met. The new law, developed with support from the New York Economic Development Council, becomes effective on June 15.